The cryptocurrency of Venezuela was not successful in its release to the market, however, it seems that everything is about to change.
Venezuela is going through one of its greatest difficulties in the country, there is an increase in all prices, both goods and services, this increase is sustained every day.
Inflation continues to be one of the biggest problems in Venezuela, reaching 25 thousand percent. The truth is that Venezuela is living a hyperinflation difficult to handle.
Inequality between poor and rich sectors continues to grow, inequality in this country is extreme.
Petromoneda, the cryptocurrency of Venezuela.
It is not necessary to clarify that Venezuela is the country with the largest proven oil reserves in the world, according to the organization of oil exporting countries.
Venezuela has reserves of 296,501 million barrels. The magnitude of the reserves of this country is so great that it could supply the world alone, for several years.
The petro, or petromoneda is the digital currency that launched Venezuela in February 2018, is a cryptocurrency that “represents the country” the backing of this digital currency, are the reserves of crude oil, and also the minerals that are in the country.
He was able to go out to the market in an initial offer of coins (ICO) raising 5 billion dollars, over time his quotation began to fall, the United States said that this digital currency was “illegal” and that Venezuela was putting it on the market to “finance itself” “What is clearly true.
But China was always in favor of the petro, China’s largest credit firm (Dadong) said that “this cryptocurrency could help the global monetary system”
The investment in the petro thinking in the United States.
The National Securities and Exchange Commission of the United States plans to regulate the market of digital currencies, in statements with the press members of the SEC concluded that the regulatory framework will take place at any time, but also in statements affirmed that both Bitcoin and Ethereum were not financial assets.
In the last hours it was learned that President Trump plans to lift the economic blockade to Venezuela if President Maduro begins to take measures in “favor of the people.” What are the measures that are blocking Venezuela? Mainly the biggest measure taken by the United States is not to let Venezuela export to that country, one of the countries that needs the most oil in the world to supply itself.
What can happen between the United States, Venezuela and the petro? If the United States decides to lift the blockade on Venezuela, something that may happen, more with a president like Trump who does commercial wars on twitter, but also in a few months he manages to get North Korea to abandon war actions.
Investing in the petroleum would be a good idea if you see the possibilities that both Venezuela and trump decide to speak, Venezuela is the country with the largest oil reserves in the world, a rapprochement between both countries would make the country could possibly return to export crude oil to the United States, earning money and financing the country.
On the other hand, the regulation of the market of digital currencies with each passing day becomes more evident. Investing in the petroleum knowing that Trump wants a rapprochement with Venezuela, maybe it’s not such a bad idea.